Finance Breaking news Starling Bank follows Monzo with new charging structure last financial news

Breaking-Finance.Com - Starling Bank has joined Monzo in leveling a range of new fees for services relating to its GBP and Euro accounts.

Finance Breaking news Starling Bank follows Monzo with new charging structure last financial news

Breaking-Finance.Com - Starling Bank has joined Monzo in leveling a range of new fees for services relating to its GBP and Euro accounts.

Finance Breaking news Starling Bank follows Monzo with new charging structure last financial news
04 September 2020 - 15:30

Breaking-Finance.Com - Starling Bank has joined Monzo in leveling a range of new fees for services relating to its GBP and Euro accounts. Earlier this week, Monzo announced plans to slap free-loading users with a three percent charge for ATM withdrawals amounting to over £250 per month and a £5 fee for replacing lost cards. Now Starling is getting in on the act, mimicking the £5 fee for replacing lost cards and adding a monthly £2 charge for new children's cards and the Connected card for vulnerable users. Current account users who open an additional GBP account will also incur the £2 per month charge. Meanwhile, account holders who choose to make payments through the large value clearing system Chaps will now have to fork out £20 per payment.

. "If you're not happy, we're really sorry to hear that," the letter states. "Unfortunately we can't change any of the terms, but you have the right to close your account at any time by getting in touch with us through the app."The move comes as Britain's new wave of challenger banks bear down on unsustainable freebies in a bid to cut costs and drive towards profitability. While Monzo is staring at a long hard road to profitability, Starling has promised to hit break even by the end of 2020.

Source = Breaking-Finance.Com

Financial breaking news

This news 25 hits received.

Finance Breaking news Starling Bank follows Monzo with new charging structure last financial news


Finance Breaking news Starling Bank follows Monzo with new charging structure last financial news


Finance Breaking news Starling Bank follows Monzo with new charging structure last financial news


Finance Breaking news Starling Bank follows Monzo with new charging structure last financial news

COMMENTS

  • 0 Comment
MAY INTEREST YOU x
Finance Breaking news Medici takes controlling stake in Caribbean blockchain outfit Bitt last financial news
Finance Breaking news Medici takes controlling stake in Caribbean...
Finance Breaking news ECB blames third-party network device for Target2 collapse last financial news
Finance Breaking news ECB blames third-party network device for...